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Home / Opinion Digests / Court Must Apply New Standard for ‘Defalcation’ (access required)

Court Must Apply New Standard for ‘Defalcation’ (access required)

An insurance carrier that had to pay a bond to an estate after debtor, conservator of the estate, forfeited the bond by failing to show cause why he did not file a final accounting, must return to bankruptcy court to show debtor’s bad faith or gross reckless in order to prove the bond debt is ...